The volume was o.k. today but nothing great. We are coming close to the 21-day moving average on the indexes and it's time to see if this rally is for real or not. We decided to take a very small position with e FAZ today. This ETF represents 3 times the movement of the financial index (XLF). We are hitting some support and in the last three days this security went from $117 down to $41ish currently. This is what we call a "lottery ticket" trade since we know the risk is high but we are willing to commit a small amount of capital for a quick reward.
Trade well,
Trader D
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